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Paytm shares soar 10% on FDI clearance
Shares of Paytm parent One 97 Communications hit a high of ₹508.85 on the BSE.
Shares of Paytm parent One 97 Communications hit a high of ₹508.85 on the BSE.
Fintech major says payments biz was impacted by disruption of PPBL; expects revenue and profitability to improve going forward
“The excess related party transactions entered into by the company with PPBL during the FY 2021-22 is without due approval of either the audit committee or the shareholders,” read the SEBI letter.
This initiative is part of Paytm's broader strategy to expand its market share in online travel services.
Shares of Zomato rose up to 1.5%, while shares of One 97 Communications Ltd, the parent of Paytm, fell nearly 3%, paring opening gains.
Zomato says discussions with Paytm are being undertaken with an intent to further strengthen the 'Going-out' business.
This partnership is designed to streamline the booking process for users by integrating these services directly into Samsung Wallet
In the rate-sensitive space, the financial services sector was the top performer, with IIFL Securities, Bajaj Finance, Paytm rising up to 20%.
The shares of One97 have seen a major erosion in value after the RBI's stringent action against its former associate entity, Paytm Payments Bank, on January 31, 2024
Paytm calls reports of Adani Group chairman Gautam Adani looking to buy a stake in the digital payments firm 'speculative'